2003 Toyota Camry Insurance Cost – 10 Savings Tips

Scraping up a payment for expensive Toyota Camry insurance can consume your family’s budget and possibly require you to analyze your spending habits.

Companies like State Farm and Geico all claim big savings with ad campaigns and it is difficult to ignore the flying pigs and cute green geckos and effectively compare rates to find the best deal.

If you are paying for car insurance now, you will be able to save some money using these methods. Finding affordable coverage is not rocket science. But drivers do need to understand how insurance companies sell insurance online.

Cheaper rates with these ten discounts

Companies offering auto insurance don’t always publicize all available discounts very clearly, so we took the time to find a few of the more common as well as some of the hidden credits available to you.

• Senior Citizen Discount – Drivers over the age of 55 may be able to get a small decrease in premiums for Camry insurance.
• Pay Upfront and Save – By paying your entire bill at once rather than spreading payments over time you can actually save on your bill.
• Own a Home – Owning a home can get you a discount due to the fact that maintaining a home means you have a higher level of financial diligence.
• Drivers Education – It’s a good idea to have your young drivers sucessfully take a drivers education course in school.
• Organization Discounts – Joining certain professional organizations is a good way to get lower rates on your bill.
• Seat Belt Discounts – Buckling up and requiring all passengers to fasten their seat belts can save up to 10 percent (depending on the company) off the PIP or medical payment premium.
• Driver Training Discounts – Taking time to complete a course teaching safe driver skills could earn you a small percentage discount if you qualify.
• Good Driver Discount – Insureds without accidents can get discounts for up to 45% lower rates for Camry insurance than drivers with accidents.
• Telematics Data – Drivers who agree to allow driving data collection to analyze when and where they use their vehicle by using a telematics device such as State Farm’s In-Drive might see lower rates if they are good drivers.
• Policy Bundle Discount – If you can bundle your homeowners and auto insurance and insure them both with the same insurance company they may give you a discount of over 10 percent off each policy depending on the company.

As a footnote on discounts, most discount credits are not given to the entire policy premium. Most only reduce specific coverage prices like liability, collision or medical payments. Just because you may think all the discounts add up to a free policy, insurance companies wouldn’t stay in business.

Companies and a summarized list of policyholder discounts are shown below.

• Geico has savings for anti-theft, emergency military deployment, federal employee, driver training, anti-lock brakes, multi-policy, and air bags.
• MetLife offers discounts including good student, multi-policy, claim-free, defensive driver, accident-free, good driver
• State Farm discounts include multiple autos, multiple policy, passive restraint, good student, and defensive driving training.
• Progressive may include discounts for continuous coverage, good student, online quote discount, multi-policy, multi-vehicle, homeowner, and online signing.
• Mercury Insurance policyholders can earn discounts including type of vehicle, professional/association, ease of repair, good student, multi-policy, multi-car, and accident-free.
• 21st Century includes discounts for student driver, air bags, driver training, early bird, good student, and theft prevention.
• Allstate may offer discounts for utility vehicle, economy car, premier discount, teenSMART discount, and defensive driver.

Before purchasing a policy, check with every company how many discounts you can get. A few discounts may not apply in your area. To find insurance companies with discount rates, follow this link.

Insurance can be complex

When it comes to buying proper insurance coverage, there isn’t really a cookie cutter policy. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. Here are some questions about coverages that might point out whether you would benefit from professional advice.

• How do I insure my teen driver?
• Is my custom paint covered by insurance?
• Do I have coverage when making deliveries for my home business?
• Is my teenager covered with friends in the car?
• If my 2003 Toyota Camry is totaled, can I afford another vehicle?
• If I drive on a suspended license am I covered?
• I don’t drive much so do I pay less?

If you don’t know the answers to these questions but a few of them apply, you may need to chat with a licensed agent. To find an agent in your area, complete this form or you can also visit this page to select a carrier

Car insurance coverages for a 2003 Toyota Camry

Understanding the coverages of insurance can be of help when determining the right coverages for your vehicles. Policy terminology can be confusing and reading a policy is terribly boring. Below you’ll find typical coverages offered by insurance companies.

Comprehensive insurance

Comprehensive insurance covers damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive can pay for claims like vandalism, rock chips in glass, damage from a tornado or hurricane and fire damage. The highest amount you’ll receive from a claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Collision protection

This pays to fix your vehicle from damage from colliding with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things such as hitting a mailbox, backing into a parked car, scraping a guard rail and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible to get cheaper collision coverage.

Uninsured/Underinsured Motorist (UM/UIM)

This coverage gives you protection from other drivers when they do not carry enough liability coverage. It can pay for medical payments for you and your occupants as well as damage to your Toyota Camry.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea. Normally the UM/UIM limits are identical to your policy’s liability coverage.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP pay for immediate expenses for things like chiropractic care, dental work, doctor visits and nursing services. The coverages can be used in conjunction with a health insurance policy or if you are not covered by health insurance. It covers not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. PIP is only offered in select states and may carry a deductible

Coverage for liability

This provides protection from damage that occurs to other people or property. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 100/300/100 which means $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged propery. Another option is one limit called combined single limit (CSL) which provides one coverage limit with no separate limits for injury or property damage.

Liability can pay for claims such as repair costs for stationary objects, legal defense fees, court costs and funeral expenses. How much liability should you purchase? That is a personal decision, but buy as much as you can afford.

And the best car insurance company is…

When buying insurance coverage, it’s very important that you do not sacrifice coverage to reduce premiums. In too many instances, an insured cut liability coverage limits only to regret at claim time they didn’t purchase enough coverage. Your aim should be to buy enough coverage at a price you can afford while still protecting your assets.

We covered a lot of information how to compare 2003 Toyota Camry insurance prices online. The most important thing to understand is the more price quotes you have, the better your comparison will be. You may even discover the best prices are with a smaller regional carrier. Smaller companies can often provide lower rates in certain areas than the large multi-state companies such as Progressive and Geico.

More detailed car insurance information can be found by following these links:

• Neck Injury FAQ (iihs.org)
• Vehicle Size and Weight FAQ (iihs.org)
• Distracted Driving Statistics (Insurance Information Insitute)
• Information for Teen Drivers (Geico)
• Cellphones, Texting and Driving (iihs.org)